Joined: 13 Dec 2006
Location: Cleveland, OH
|Posted: Dec Sun 17, 2006 2:19 pm Post subject: Give VIP perks to VIPs
|Give VIP perks to VIPs
China Wok is a typical Chinese sit-down/take-out restaurant – with a twist.
The twist is Audrey, who manages the location near my office. Audrey understands the purchasing power of her best customers. It's a pleasure to eat, drink, and be merry when she takes care of me, my staff, and my family and friends. I know when Audrey's on duty, I'll get VIP treatment. Here are the top 3 lessons I've learned from Audrey.
Don't treat all customers equal
This is hard to grasp ... especially for those new in business. We feel the need to treat every customer equal because we're customers, too. But that thinking could bankrupt your company quickly. It's the ol' 80/20 rule – 80% of your profits come from just 20% of your customers.
I'm not suggesting you treat any customers poorly. Instead, go out of your way to reward those who reward you. Route VIPs to the head of the line.
My 10 best clients have a special toll-free number direct to my office. When that special line rings, I can be 90% sure we're ready to get a big order. For less than $20 a month, you can install a VIP phone line. Take a look at your client list, identify the most profitable accounts, and offer this low-cost, high-value perk.
Surprise VIPs with small gifts. There's no need to send fruit baskets, expensive pens, or baseball tickets. A simple thank-you letter, card, or small gift can let people know you appreciate them.
Think of the supplier you'll write the biggest check to this year. Do they appreciate your business? Probably not. Now think of your best clients. Do YOU appreciate their business? My guess: probably not.
By Markus Allen [ http://www.markusallen.com ]